EANS-News Results for the first half of 2020|21 (ended 31 August 2020) - AGRANA boosts EBIT and revenue

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08.10.2020, 09:40  |  120   |   |   
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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Forecast: EBIT at least matching prior-year level

Mid Year Results

Vienna - AGRANA, the fruit, starch and sugar company, generated operating profit
(EBIT) of EUR 55.8 million in the first half of the 2020|21 financial year, a
moderate increase of 7.9% year-on-year (H1 prior year: EUR 51.7 million). The
Group's revenue rose slightly to EUR 1,309.3 million (H1 prior year: EUR 1,250.0
million).

AGRANA Chief Executive Officer Johann Marihart says: "Much of our positive
business performance can be credited to the diversification of our business
activities, which enables us to balance out fluctuating economic conditions in
the various segments. Thus, in the first half of the year, the Starch segment
was able to maintain the prior year's EBIT earnings despite significantly weaker
starch sales in the paper sector, thanks to the very strong performance in
bioethanol especially in the second quarter."

Helping make the year-on-year growth in Group EBIT possible was the Sugar
segment, which, as in the first quarter, saw a year-on-year improvement in
earnings in the second quarter as a result of higher sugar prices. The Sugar
segment's EBIT nonetheless remained negative. In the Fruit segment, AGRANA was
able to hold earnings in the fruit preparations business in line with the first
half of the prior year. The performance of the fruit juice concentrate business
was down significantly due to lower available volumes from the 2019 apple crop.


AGRANA Group consolidated financial results
EUR million, except %

H1 2020|21 H1 2019|20
Revenue 1,309.3 1,250.0
EBITDA* 101.1 90.8
Operating profit** 47.7 44.0
Share of results of equity-accounted joint ventures 8.9 7.7
Exceptional items (0.5) 0.0
Operating profit (EBIT) 55.8 51.7
Net financial items 4.3% 4.1%
Profit for the period 34.4 28.9
Investment*** 27.8 68.1



Q2 2020|21 Q2 2019|20
Revenue 656.7 611.6
EBITDA* 46.4 39.3
Operating profit** 19.3 16.5
Share of results of equity-accounted joint ventures 5.0 4.3
Exceptional items (0.5) 0.0
Operating profit (EBIT) 23.8 20.8
EBIT margin 3.6% 3.4%
Profit for the period 15.2 10.6
Investment*** 16.7 34.5



* EBITDA represents operating profit before exceptional items, results of
equity-accounted joint ventures, and operating depreciation and amortisation
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EANS-News Results for the first half of 2020|21 (ended 31 August 2020) - AGRANA boosts EBIT and revenue - Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement. - Forecast: EBIT at least matching prior-year level Mid Year Results Vienna - AGRANA, the …

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